Tom Hicks's Acquisitions Venture Tries One More Time to Acquire Something
Tom Hicks has been all kinds of busy making deals; alas, none of 'em Rangers-related. Instead, it's his publicly traded investment company, Hicks Acquisitions, making news this week, as once more he tries to keep the venture from being delisted by the New York Stock Exchange, which threatened to make such a move in May if Hicks didn't, ya know, actually acquire something sooner than later and hold a shareholders meeting by August 11.
A filing with the Securities and Exchange Commission yesterday addresses all those issues and more: Yes, Hicks Acquisitions is going to acquire something after all -- an oil and gas exploration-production company called Resolute Natural Resources Co. -- in a deal worth $582 million. This deal replaces a previously announced acquisition -- Graham Packaging Holdings, owned by Blackstone Group -- that has since been "terminated," according to the SEC filing. But that shareholder meeting won't head the NYSE's deadline: Says the filing, "The Company contemplates holding such stockholder meeting by September 28, 2009 in lieu of the previously contemplated August 11, 2009 date." The feds granted Hicks a grace period -- but who isn't these days?